【$USELESS Signal】1H Strong Rebound, Continuing Short Squeeze Play

$USELESS The 1H timeframe has experienced a massive rally and is currently consolidating strongly at high levels. The price has stabilized above the 1H EMA20 (0.0418), and the 1H RSI (75.13) indicates strength but has not entered extreme overbought territory. Market depth shows slightly more selling pressure than buying pressure (depth imbalance -2.19%), but the price remains firm. Combined with stable open interest, this suggests that the bulls may be defending the level or that bears are passively covering. Although the daily chart is in a long-term downtrend, short-term momentum has reversed, making the intra-day play highly valuable.

🎯 Direction: Long (Long)

🎯 Entry/Order: 0.0458 - 0.0460 ( Reason: Support zone at the lower end of the current consolidation range, 1H candlestick body support area )

🛑 Stop Loss: 0.0445 ( Reason: Break below the previous 1H candlestick low of 0.04466 and a key psychological level )

🚀 Target 1: 0.0488 ( Reason: Previous high resistance level, approaching the intra-day high )

🚀 Target 2: 0.0510 ( Reason: Based on the recent volatility range’s 1.382 Fibonacci extension level )

🛡️ Trading Management:

- Position Size: Light ( Reason: The daily trend is still downward; this is a counter-trend rebound play on the 1H timeframe, with higher risk )

- Execution Strategy: After reaching Target 1, reduce position by 50% and move stop loss to entry price 0.0460. Hold the remaining position for Target 2. If the price retraces and breaks the trailing stop, exit all positions.

Depth Logic: Over the past few hours, trading volume has been huge, and despite a 37% increase, the price has not fallen sharply, indicating strong buying support. Although the 1H RSI is high, it has not become exhausted, leaving room for further upward movement. Market logic suggests that open interest should be considered; currently, open interest is stable, and the price increase may be driven by spot buying or short covering, indicating a possible short squeeze. The key is whether the price can hold above 0.0460 and challenge the previous high.

Trade here 👇 $USELESS

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